CdA income growth beats average

Personal income in the Coeur d’Alene metropolitan area grew by 4.8 percent between 2002 and 2003, according to estimates from the U.S. Bureau of Economic Analysis, outpacing the national average of 3.2 percent.

Personal income in Idaho Falls grew by 3.9 percent during the same period, and the Boise-Nampa area recorded personal income growth of 3 percent.

Personal income is the total income of all residents from all sources, including wages, investment earnings and government payments.

Personal income for Coeur d’Alene totaled more than $2.9 billion in 2003. Idaho Falls was at nearly $2.74 billion, and the Boise-Nampa area had more than $15 billion in personal income.

Per capita income in the three areas, however, grew at rates slower than the national average.

Nationally, per capita income was up nearly 2.2 percent, to $31,472.

In the Coeur d’Alene metro area, per capita income rose 1.9 percent to $24,805. In Idaho Falls, it rose 1.6 percent to $25,447, and in the Boise Nampa area it was up 0.5 percent to $29,562.

WestCoast loses $3.1 million in first quarter

Spokane-based WestCoast Hospitality Corp. reported a first-quarter loss of $3.1 million, or 24 cents a share, compared with a loss of $2.3 million, or 21 cents a share, in the first quarter of 2004.

The company reported total revenue of $35.4 million in the first quarter of 2005, a 2 percent decrease from revenue of $36.1 million a year ago.

WestCoast Hospitality owns and operates hotels under the WestCoast and Red Lion brands; presents theatrical productions and distributes tickets through its TicketsWest.com subsidiary; and owns and manages real estate.

The company said its first-quarter results were affected by a decline in revenue from its entertainment division because it had fewer shows and performances scheduled in the first quarter of 2005 compared with a year ago. In addition, revenue for its real estate division was lower due to a reduction in management fees. However, revenues on hotels owned and operated for at least a year was up 2.5 percent over last year.

Key Tronic third-quarter income up last year

Spokane-based Key Tronic Corp. on Thursday reported third-quarter net income of $852,000, or 9 cents per share, up from $112,000, or 1 cent per share, for the third quarter of fiscal 2004.

Third-quarter sales were $49.7 million, up 33 percent from $37.3 million for the third quarter of fiscal 2004.

Key Tronic primarily provides custom and specialized manufacturing services for other companies.

In a prepared statement, Key Tronic CEO and President Jack Oehlke said, “Our year-over-year growth continues to be primarily driven by increased production on programs for established customers involving specialty printer accessories and components, and gaming technology.”

More than half file returns electronically

For the first time, more than half of all taxpayers filed their returns electronically this year, the Internal Revenue Service said Thursday.

The IRS reported that e-filing accounted for almost 66 million of the returns received as of April 23, up 10.7 percent over the same time last year. Of those filing electronically, 46 million were tax professionals, 3 million filed by phone and nearly 17 million used their home computers.